DA Davidson Upgrades Amplitude (NASDAQ:AMPL) to Buy

Amplitude (NASDAQ:AMPL) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Thursday,Benzinga reports. The firm presently has a $16.00 price objective on the stock, up from their previous price objective of $12.50. DA Davidson’s price target would indicate a potential upside of 35.02% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AMPL. Piper Sandler upgraded Amplitude from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $15.00 in a report on Monday, January 6th. Scotiabank boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $11.00 in a research note on Monday, January 13th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $17.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Amplitude Price Performance

NASDAQ:AMPL opened at $11.85 on Thursday. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.30. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -17.69 and a beta of 1.37. The company’s 50-day moving average is $11.40 and its two-hundred day moving average is $10.00.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative return on equity of 27.40% and a negative net margin of 27.44%. As a group, equities analysts anticipate that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the sale, the director now owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Amplitude during the fourth quarter worth about $38,000. Aquatic Capital Management LLC boosted its position in shares of Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board grew its stake in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Meros Investment Management LP acquired a new position in Amplitude in the fourth quarter valued at $102,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

About Amplitude

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.